Building Fund Definition:“All funds designated towards the Building Fund will remain in the Building Fund and invested until enough capital is accumulated to either (a) purchase or rent a new building, (b) purchase or rent an older building and renovate it, (c) renovate our existing building, (d) purchase land and build a new building, or (e) some similar scenario that would allow us to eventually relocate into more efficient facilities.
The Building Fund capital will also be used to furnish and maintain the building and may be used for any purpose related to the building, including any building used by Freedom House Church & Healing Centre Inc. , both present and future.
If the Building Fund receives more money than is required to meet the need OR if for any reason determined by the Board of Directors of Freedom House Church that this project should be terminated, then all funds remaining in the Building Fund will be used for other approved programs at the discretion of the Board. Under no circumstances will designated funds be returned to the donor.
Interest earned will remain within the Building Fund and become part of the accumulated Funds.”
Designated Funds Policy:
“All designated funds will be used for the purposes designated until the need is either met or cannot be completed for any reason, at which time all remaining funds designated for that purpose will be used for other approved programs at the discretion of the Board. Under no circumstances will donated funds be returned to the donor.”
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